The use of electric vehicles (EVs) is an economically viable alternative to vehicles equipped with internal combustion engines. The government of the United States of America has proposed a goal for vehicle manufactures to produce one million EVs by 2015. The widespread use of EVs will need to be supported by government policy and regulations and an appropriate infrastructure, such as battery charging station at home, at work and in and around roadways. The infrastructure and appropriate methodology for charging batteries in EVs are vital for the success and long-term viability of the electric vehicle industry.
There is a growing trend to install charging stations with an infrastructure similar to conventional gasoline stations. However, there are number of problems associated with such charging stations. For example, to provide sufficient supply for electricity demand from the power grid during peak-hours, a utility company may need to activate additional generators. Therefore, charging EVs during daytime from an already highly utilized power grid puts an additional burden on the power grid.
Moreover, when there is a large electricity demand in a particular area due to weather conditions and events drawing a large number of vehicles, insufficient power capacity can localized power failures. Hence, satisfying the charging needs of EVs may not be easy, or practically possible.
Accordingly, there is a need for alternative solution for energy exchange between energy suppliers and energy consumers.